India and Spain have agreed to boost technical discussions regarding the interoperability between India’s Unified Payments Interface (UPI) and Spain’s Bizum digital payments platform. This decision was made during Commerce Minister Piyush Goyal’s visit to Spain as part of his European tour from July 13 to 18.
During the visit, Goyal engaged in productive discussions with Carlos Cuerpo Caballero, First Vice-President and Minister of Economy, Trade and Business, and Jordi Hereu Boher, Minister of Industry and Tourism. They explored the potential for an annual India–Spain Joint Commission meeting with business involvement and the establishment of a dedicated “India Team” to enhance bilateral engagement.
The two countries have identified various collaboration opportunities in sectors such as automobiles, pharmaceuticals, chemicals, textiles, renewable energy, tourism, and infrastructure. Discussions also encompassed investment facilitation, professional mobility, and joint investments in Latin America, leveraging Spain’s strategic position as India’s gateway to Europe and Latin America.
At the India–Spain Business Forum, Goyal encouraged businesses to establish early partnerships to capitalize on opportunities arising from the India–EU Free Trade Agreement (FTA). He outlined an ambitious “10×10×10” vision to boost bilateral trade, investment, and tourism tenfold over the next decade.
In Brussels, Goyal co-chaired the 3rd India–EU Trade and Technology Council (TTC) Ministerial Meeting. The meeting welcomed the adoption of the 2026–27 TTC Action Plan and the approval of 21 additional Indian fishery establishments, bringing the total to 625 approved Indian establishments.
